Satyam bidders not allowed to engage KPMG, Deloitte

HYDERABAD: Potential bidders seeking to acquire a majority stake in Satyam Computer Services will not be allowed to engage with audit firms KPMG and Deloitte for carrying out their due diligence, sources told ET on conditions of anonymity.

Both KPMG and Deloitte were appointed by the Satyam board for restatement of the company���s financial statements, after its chairman and founder Ramalinga Raju admitted to over $1 billion financial fraud two months ago.

The Satyam board, along with investment advisors Goldman Sachs and Avendus will be evaluating bids from potential acquirers over today and tomorrow, as the company seeks to complete the sale process by April 30.

Bidders such as iGate, Tech Mahindra, Spice and L&T have already submitted their expression of interest (EOI)